Mumbai: Riyadh-based low-fare carrier Nas Air will launch India services beginning 1 June with flights to Kochi, while Kozhikode, Mumbai and New Delhi will start later.
Nas Air, a subsidiary of aviation firm Saudi National Air Services (NAS), is offering promotional fares starting at Rs4,500 to attract Indian passengers.
In November 2008, another Saudi Arabia-based low-fare carrier, Sama Airlines, had started Indian operations connecting Mumbai, but suspended operations in a month.
HNGIL in joint venture with Belgian firm
Kolkata: India’s leading glass container manufacturer by market share, Hindusthan National Glass and Industries Ltd (HNGIL) on Thursday entered a 50:50 joint venture with Belgian firm Omco International NV to make glass moulds in India.
The new company, Omco HNG Engineering Ltd, will manufacture glass moulds and neck rings using Omco’s technology that would primarily be purchased by HNGIL for making glass containers.
Crompton Greaves to buy Nelco businesses
Mumbai: Electrical equipment maker Crompton Greaves Ltd on Thursday signed an agreement to buy Nelco Ltd’s three businesses—traction electronics, SCADA and industrial drives—for Rs92 crore, it said in a statement to the Bombay Stock Exchange.
The acquisition was made on a slump sale basis, which refers to the transfer of only a division of a company to another.
The purchase will enable Crompton Greaves to bid for more contracts for railway track electrification and signalling contracts by leveraging its existing portfolio.
Energy | Railways in talks with NPCIL for captive plant
Hyderabad: Public sector firm Nuclear Power Corp. of India Ltd (NPCIL) is in initial talks with Indian Railways to set up a captive power plant for the latter.
“They (Railways) are big consumers of power. They want to set up a power plant for their own consumption,” NPCIL chairman and managing director S.K. Jain said on Thursday.
Energy | CESC to revive Balagarh power project
Kolkata: Faced with mounting power shortage, CESC Ltd, which generates and supplies power in Kolkata, has decided to revive a project that has been hanging fire for the last 10 years despite land being allotted to the company.
CESC’s board on Thursday approved plans to build in two phases a 1,320MW power plant at Balagarh in West Bengal. The projected investment for the first phase, in which the company will create a generation capacity of 660MW, is Rs3,200 crore, CESC vice-chairman Sanjiv Goenka said.
On Thursday, CESC announced its net profit in the quarter till 31 March had gone up 6.3% over the corresponding period in the previous fiscal to Rs100 crore, while revenue rose 2% to Rs770 crore.